Thai Dec exports up 8.6 pct y/y, below forecast

Reuters Staff

3 Min Read

BANGKOK, Jan 22 (Reuters) - Thailand's customs-cleared
annual exports rose for a tenth straight month in December, but
at a slower pace than the previous month and below expectations,
and posted its first trade deficit in five months.
Exports, a key driver of Thailand's growth, increased 8.6
percent in December from a year earlier after jumping 13.4
percent in November, commerce ministry data showed on Monday.
That missed the median forecast of a 10.65 percent rise from
economists polled by Reuters.
The export gains were led by cars, computers and parts and
rubber.
Imports in December rose 16.6 percent from a year earlier
after increasing 13.7 percent in November, and more than the
forecast of a 10.35 percent rise.
That resulted in a trade deficit of $0.28 billion in
December, the first deficit since July 2017, compared with a
forecast of $1.1 billion surplus.
In 2017, exports grew 9.9 percent, while imports jumped
14.71 percent, giving a trade surplus of $13.9 billion,
Pimchanok Vonkhorporn, an official at the commerce ministry,
said at a briefing.
The ministry expects export growth of 5-7 percent this year.
Shipments rebounded last year, despite the baht
strengthening 9 percent against the dollar. In 2016, exports
rose just 0.5 percent after three years of contraction.
(Percentage change from a year earlier, in dollar terms;
figures may not add up exactly due to rounding):
Dec Nov Oct Sept
Exports (pct y/y) 8.6 13.4 13.1 12.2
($US bln) 19.74 21.43 20.08 21.81
Imports (pct y/y) 16.6 13.7 13.5 9.73
($US bln) 20.02 19.67 19.87 18.45
Trade balance ($US bln) -0.28 1.76 0.21 3.35
($1 = 31.88 baht)
(Reporting by Kitiphong Thaichareon; Writing by Orathai
Sriring; Editing by Gopakumar Warrier)